GE Vernova completes sale of Proficy® software business to TPG

GE Vernova Inc. (NYSE: GEV) announced the completion of the previously announced acquisition of GE Vernova’s Proficy® software business (“Proficy”) by TPG, a leading global alternative asset management firm, for $600 million.

The transaction establishes Proficy as an independent software business serving more than 20,000 customers across discrete, process, and hybrid manufacturing, as well as metro transit and other infrastructure applications. Proficy’s fully integrated solutions include cloud-based and on-premises HMI/SCADA, MES, industrial data management, and analytics, offering architectural flexibility from equipment to the production line, plant, and full enterprise.

With the close of this transaction, TPG now owns and controls the Proficy business. GE Vernova remains focused on delivering its software solutions that help customers electrify and decarbonize the energy ecosystem, anchored by GridOS®, its enterprise software and AI platform for grid orchestration.

Forward-Looking Statements
This press release contains forward-looking statements – that is, statements related to future events that by their nature address matters that are, to different degrees, uncertain. Forward-looking statements may be identified by words such as “expect,” “anticipate,” “intend,” “plan,” “will,” “would,” “estimate,” “believe,” “project,” “outlook,” and similar expressions. Such statements, including those regarding the expected future business operations of GE Vernova and the standalone Proficy software business, are subject to risks and uncertainties that could cause actual results to differ materially. These risks include factors described in GE Vernova’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent SEC filings. GE Vernova undertakes no obligation to update any forward-looking statements except as required by law.

GE Vernova Inc. (NYSE: GEV) is a purpose-built global energy company that includes Power, Wind, and Electrification segments and is supported by its accelerator businesses. Building on over 130 years of experience tackling the world’s challenges, GE Vernova is uniquely positioned to help lead the energy transition by continuing to electrify the world while simultaneously working to decarbonize it. GE Vernova helps customers power economies and deliver electricity that is vital to health, safety, security, and improved quality of life. GE Vernova is headquartered in Cambridge, Massachusetts, U.S., with approximately 85,000 employees across approximately 100 countries around the world. Supported by the Company’s purpose, The Energy to Change the World, GE Vernova technology helps deliver a more affordable, reliable, sustainable, and secure energy future.